How do I create a retirement plan?

Start by estimating what you'll spend each year in retirement, then use the 25 times rule to set a savings target. Add up your expected income from Social Security, any pension, and your savings to find the gap you need to fill. From there, decide how much to save now, where to put it across 401(k)s and IRAs, and how your investments should be allocated. Revisit the plan every year or so, and consider a one-time advisor session if you want a check.